Zimbabwe Seeks Stronger Diamond Ties with India
August 25, 25
(IDEX Online) - Diamond-rich Zimbabwe is moving towards closer ties with India.
Constantino Chiwenga, Zimbabwe's vice president, visited Surat last week to discuss direct trade links that would allow it to bypass intermediaries and sell goods direct to Indian manufacturers.
He also invited Indian investors and diamantaires to consider direct investments and joint ventures in Zimbabwe's mineral processing and industrial sectors.
Zimbabwe is now subject to 15 per cent US tariffs, compared to 50 per cent (as of Wednesday, 27 August) in India, which makes it an attractive investment option.
During his visit, Mr Chiwenga met founders of Hari Krishna Exports, to explore potential partnerships with Zimbabwean companies.
Zimbabwe aims to move beyond simply exporting rough diamonds to capturing more value domestically by developing local cutting, polishing, and manufacturing industries.
Developing the diamond manufacturing sector in Zimbabwe would create substantial employment opportunities for local communities and foster skill development, reducing unemployment and poverty.
Pic shows Constantino Chiwenga.